"If you're going to panic, do it fast and beat the crowd." ~ Jesse Livermore

Saturday, April 14, 2012

Euro Crisis 2012: Spain Edition

Euro Crisis 2012: Spain Edition
Wall Street Journal (blog)
By Charles Forelle For much of the past two years, Spain and Italy have swapped the inglorious title of Biggest Euro-Zone Worry. Friday was another miserable day in Madrid. The stock market closed down 3.58%, and yields on Spanish 10-year bonds are now ...

Stocks drop on euro-zone woes
Chicago Tribune
DJI 12986.58 +181.19 | NASDAQ 3055.55 +39.09 | S&P 1387.57 +18.86 Stocks fell on Friday on renewed concerns about the euro zone after the cost of insuring Spanish debt against default hit a new high. Banks were the biggest losers.

Eurozone leaders wary of Socialist victory in France
Washington Times
(Associated Press) BERLIN — The eurozone's mostly conservative leaders are bracing themselves as France, an economic giant, prepares to elect a Socialist amidst their efforts to impose austerity measures to staunch Europe's fiscal crisis.

Washington Times

US STOCKS-Wall St drops on euro-zone woes and banks' slide
Reuters
... April * Dow off 0.6 pct, S&P down 0.8 pct, Nasdaq off 1.1 pct By Angela Moon NEW YORK, April 13 (Reuters) - US stocks fell on Friday on renewed concerns about the euro zone after the cost of insuring Spanish debt against default hit a new high.

Obama's Financial Crisis Task Force Turning To Rarely Used Law To Make It ...
Huffington Post
By Aruna Viswanatha WASHINGTON, April 12 (Reuters) - An Obama administration task force established to investigate misconduct that fueled the financial crisis is turning to a little-used statute that may make such cases easier to bring, according to ...

Ben Bernanke On Financial Crisis: Federal Reserve Employed 'The Best Of Bad ...
Huffington Post
By MARTIN CRUTSINGER 04/13/12 02:29 PM ET Ben Bernanke said the Federal Reserve responded to the financial crisis with "the best of bad options." WASHINGTON — Chairman Ben Bernanke said Friday that the Federal Reserve was left with few good options ...

Bernanke defends Fed's response to financial crisis
USA TODAY
By Martin Crutsinger, AP WASHINGTON – Chairman Ben Bernanke said Friday that the Federal Reserve was left with few good options when it stepped in to shore up the largest US financial institutions during the 2008 crisis. By Phil Skinner, AP Federal ...

USA TODAY

Inflation May Drive Germany Out of the Eurozone
Wall Street Journal (blog)
But because much of the rest of the euro zone is trapped in a deflationary spiral that demands accommodative monetary policy to offset it, this advent of German inflation is occurring under overly loose conditions. It's a fundamental flaw in the euro ...

Bernanke defends Fed response to financial crisis
Fox News
WASHINGTON – Chairman Ben Bernanke said Friday that the Federal Reserve was left with few good options when it stepped in to shore up the largest US financial institutions during the 2008 crisis. Bernanke defended the central bank's actions to support ...

Euro Crisis in Full Swing? FX Traders Don't Seem to Think So
Wall Street Journal (blog)
By Katie Martin As some pockets of the financial markets flash red with now-familiar signs ofeuro-crisis panic, the value of the common currency itself is going nowhere. Friday, the cost of insuring Spanish government debt against default hit yet ...

Portugal Becomes First Eurozone Country to Ratify Fiscal Pact Eds
LoanSafe
Portugal became the third eurozone country to be rescued financially, after Greece and Ireland. The Fiscal Compact, which Germany lobbied hard for, was signed by 25 out 27 EU nations at a summit in March. It is due to come into force in 2013, ...

Detroit Financial Crisis Case Set for Appellate Hearing
BusinessWeek
By Margaret Cronin Fisk on April 13, 2012 Michigan's Court of Appeals will hear oral arguments May 3 on a union official's lawsuit seeking to bar actions by the Detroit Financial Review Team, which is evaluating the city's fiscal crisis.

European stocks sink on eurozone debt, Chinese GDP
AFP
LONDON — European stocks sank on Friday, despite gains in Asia, as investors reacted to eurozone debt tension in Italy and Spain, and unexpectedly weak Chinese economic growth. In afternoon trading, London's benchmark FTSE 100 index lost 1.07 percent ...

AFP

US looks to little-used tool to bring financial crisis cases
Chicago Tribune
An Obama administration task force established to investigate misconduct that fueled the financial crisis is turning to a little-used statute that may make such cases easier to bring, according to people familiar with the matter.

BERNANKE: Lessons From The Financial Crisis
Business Insider
I would like to thank the conference organizers for the opportunity to offer a few remarks on the causes of the 2007-09 financial crisis as well as on the Federal Reserve's policy response. The topic is a large one, and today I will be able only to lay ...

Business Insider

After 3 Years, Is The Euro Crisis Actually Any Closer To A Solution?
Seeking Alpha
After nearly three years, is the Euro crisis actually closer to any 'solution?' We're afraid the answer is a rather resounding no. The Euro crisis is a rather complex, multifaceted whole, so it is useful to analytically disentangle things.

Eurozone needs a growth strategy, not more austerity
The Guardian (blog)
Since last November, the European Central Bank, under its new president, Mario Draghi, has reduced its policy rates and undertaken two injections of more than €1tn (£825bn) of liquidity into the eurozone banking system.

The Guardian (blog)

Inflation: The Secret Answer to the Eurozone Crisis
Business Insider
In his column today he ponders the euro zone crisis. He relies extensively on Jay Shambaugh, an economist at Georgetown, telling us that Shambaugh identifies three distinct crises: "First, there's a banking crisis. Banks have too little capital (a ...

MONEY MARKETS-Positioning for a new round of euro zone stress
Reuters
But as concerns rise over Spain's ability to enact fiscal discipline without sending its economy into a deeper recession, the contagion risk has taken centre stage again and Spanish and Italian yields have been rising since mid-March.

Eurozone crisis will slow global growth says WTO
Examiner.com
The WTO has stated that the eurozone cris swil dampen global growth this year. This analysis has come on the heels of recent spike in bond yields in Spain and Italy. Last week and for first two days of this week worldwide markets were done as investors ...

European stocks sink on eurozone debt woes
Ninemsn
European stocks have sunk, despite gains in Asia, as investors reacted to eurozone debt tension over rising Italian and Spanish bond yields, and unexpectedly weak Chinese economic growth. In late morning trading on Friday, London's benchmark FTSE 100 ...

Europe's financial 'crisis' resurfaces, isn't going away soon
OregonLive.com
By Syndicated columns By Robert J. Samuelson The European "crisis" is back. Actually, it never went away -- and won't for many years. The problems are so deep and pervasive that there is no easy or obvious solution. Government debt and deficits in many ...

Eurozone crisis focuses on Andalucía, home to sun, sand and soaring deficits
The Guardian
It sells itself to British tourists as a holiday heaven of golden beaches, flamenco dresses and well-stocked sherry bars, but southern Andalucía – home to the Costa del Sol – has now become the focus of worries about the euro.

The Guardian

George Soros: Euro Crisis Is Now 'More Lethal'
AdvisorOne
(Photo: AP) In recent commentary in the Financial Times, as well a speech he delivered in Berlin to celebrate the release of his latest book, Soros says that “far from abating, the euro crisis has recently taken a turn for the worse.

AdvisorOne

European Shares Close Lower On Fresh Euro Zone Fears
CNBC.com
European shares extended their losses in afternoon trade closing at a session low on Friday led lower by euro zone banking stocks on fresh concerns about the finances of Spain and Italy. European shares extended losses as data showing a dip in US ...

UNCTAD's Flassbeck: Germany Must Do More For Euro Zone
Wall Street Journal
BERLIN (Dow Jones)--Germany must do more to stimulate domestic demand, if the euro zoneis expected to survive the next decade, a director of a United Nations trade organization said Friday. "If Germany gets all its growth from net exports, ...

Bernanke: Lack Of Oversight Worsened Financial Crisis
WCVB-TV
Speaking at a conference in New York, Bernanke focused largely on historical events leading up to the recent financial crisis and the central bank's response to it. He characterized subprime mortgages as a "trigger" of the crisis, but "vulnerabilities" ...

Spain's banks borrow record amount in March
Huffington Post
Just five years ago Spain was one of Europe's most buoyant economies, but a nose-dive started in 2008 when the international financial crisis coincided with the bursting of a real estate bubble that had buoyed the economy for over a decade.

Ben Bernanke On Financial Crisis: Federal Reserve Employed 'The ...
By The Huffington Post News Editors
WASHINGTON -- Chairman Ben Bernanke said Friday that the Federal Reserve was left with few good options when it stepped in to shore up the largest U.S. financial institutions during the 2008 crisis. Bernanke defended the central bank's ...
The Full Feed from HuffingtonPost.com

Weekly Eurozone Watch | Global Macro Monitor
By macromon
Like this: Like. Be the first to like this post. This entry was posted in Weekly Eurozone Watch and tagged Euro Currency, European Banks, European Credit Spreads, European Soveign Debt Crisis, France, Greece, Ireland, Italy, Portugal, Spain.
Global Macro Monitor

European morning wrap: Euro zone peripheries not enjoying Friday ...
By Gerry Davies
ECB's Asmussen: Sovereign debt crisis ongoing More Asmussen (can never have too much Asmussen is what I say) Spain banks borrowed 316.3 bln euros from.
ForexLive

"Eurozone Chutzpah and the IMF" by Simon Tilford | Project ...
By Richard
Europe's leaders cannot decide if the eurozone is a federation akin to the United States or a group of independent states. They frequently compare the eurozone favorably to other developed economies. Eurozone members as a whole, they ...
Flashman Letters

Private Debt Slows The Euro Zone Recovery | Benzinga
By OANDA
Since the euro zone debt crisis has started more than two years ago, public debt has received most of the attention from the European policy makers. In the meantime, the growing private-sector debt has started to show its negative impact on ...
Benzinga - Stock Market Quotes,...

Stocks Lower on China, Euro Zone Worries | Stock Market News
By edliston
Stocks are falling in trading today as worries about the euro zone and China's economy have weighed down investors' sentiment. However, all three major.
Stock Market News

MONEY MARKETS-Positioning for a new round of euro zone ... - XE
Money market players are positioning for a new round of financial stress as concerns over euro zone banks' exposure to Spanish and Italian government debt mount, with the duo witnessing fast-rising borrowing costs again.
XE Forex News

EUR/USD extends sell-off, eurozone periphery stockmarkets getting ...
By Gerry Davies
We've been down to session low 1.3143 so far, presently at 1.3145. Spain's IBEX down -2.6%, Italy's FTSE MIB down -2.0%. Technical support of note for EUR/USD looms at 1.3134 (100 dma) Guess they'll be further sell stops parked close ...
Forex Bloggers

How Greece's archaeological sites are weathering the financial crisis
By Matthew
There were many derogatory comments made, when Greece first announced that it was going to do more to encourage filming on the Acropolis by private companies (for a fee). At the end of the day though, it makes more sense to explore ...
Elginism

Euro-Zone News and Analysis | The Albion Alliance presents
By admin
Euro-Zone News and AnalysisPress summary: Spain passes law to tackle excessive spending in regions; ECB warns of high levels of ???shadow government debt??? in the eurozonehttp://www.openeurope.org.uk/Article/Page/en/LIVE?id= ...
The Albion Alliance presents

Analysis: Troubled euro zone states most at risk from high oil | Reuters
BRUSSELS (Reuters) - Oil prices at record levels in euro terms are threatening to rock the euro zone's economy more than might be expected, with those ...
www.reuters.com/.../us-econony-eurozone-oil-idUSBRE8390...

The causes of the financial crisis - The Browser - Salon.com
A Wall Street insider explains how Greenspan contributed to the mortgage crisis and how to restore economic sanity.
www.salon.com/2012/04/.../the_causes_of_the_financial_crisis...

EUobserver.com / Economic Affairs / Forecast: eurozone recession ...
France, Germany and Italy have jointly forecast the eurozone recession will end in spring, with meagre growth in summer.
euobserver.com/19/115789

David Herro: China vs. Eurozone
David Herro: China vs. Eurozone, Stocks: FXE,CS,INTC,WFC, release date:Apr. 03, 2012.
www.gurufocus.com/news/.../david-herro-china-vs-eurozone

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